Federal Trade Commission Act

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The Federal Trade Commission Act of 1914 established the Federal Trade Commission, a bipartisan body of five members appointed by the President of the United States for seven year terms. This Commission was authorized to issue Cease and Desist orders to large corporations to curb unfair trade practices. This Act also gave more flexibility to the US congress for judicial matters.

The agency was created during the presidency of Woodrow Wilson and was part of the Progressive Era reforms.

Section 5. Unfair methods of competition and deceptive practices declared to be illegal.

The Federal Trade Commission could take action against unfair or deceptive trade practices in every industry except banking and transportation.

This United States federal legislation article is a stub. You can help Wikipedia by expanding it.
Retrieved from "http://en.wikipedia.org/wiki/Federal_Trade_Commission_Act"
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